Claro Advisors LLC Trims Stake in The Coca-Cola Company (NYSE:KO)

Claro Advisors LLC lowered its position in The Coca-Cola Company (NYSE:KO) by 73.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,599 shares of the company’s stock after selling 18,302 shares during the period. Claro Advisors LLC’s holdings in Coca-Cola were worth $474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of KO. V Square Quantitative Management LLC lifted its stake in shares of Coca-Cola by 8.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 74,684 shares of the company’s stock worth $5,367,000 after acquiring an additional 5,896 shares during the last quarter. RFG Advisory LLC lifted its position in shares of Coca-Cola by 1.9% during the third quarter. RFG Advisory LLC now owns 72,010 shares of the company’s stock worth $5,175,000 after purchasing an additional 1,316 shares during the last quarter. Howard Capital Management Group LLC boosted its stake in shares of Coca-Cola by 0.5% during the third quarter. Howard Capital Management Group LLC now owns 399,607 shares of the company’s stock valued at $28,716,000 after purchasing an additional 2,069 shares during the period. LexAurum Advisors LLC grew its holdings in shares of Coca-Cola by 17.8% in the third quarter. LexAurum Advisors LLC now owns 5,221 shares of the company’s stock worth $375,000 after purchasing an additional 789 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Coca-Cola by 3.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 691,459 shares of the company’s stock worth $49,688,000 after buying an additional 25,917 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Insider Buying and Selling at Coca-Cola

In other news, EVP Nancy Quan sold 37,787 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the sale, the executive vice president now directly owns 223,330 shares of the company’s stock, valued at $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Nancy Quan sold 37,787 shares of Coca-Cola stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $66.96, for a total transaction of $2,530,217.52. Following the completion of the sale, the executive vice president now owns 223,330 shares of the company’s stock, valued at $14,954,176.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO James Quincey sold 42,397 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $70.02, for a total transaction of $2,968,637.94. Following the completion of the transaction, the chief executive officer now owns 442,546 shares in the company, valued at approximately $30,987,070.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 356,792 shares of company stock worth $24,728,364. 0.97% of the stock is owned by corporate insiders.

Coca-Cola Stock Performance

Shares of KO opened at $70.44 on Friday. The Coca-Cola Company has a 12 month low of $53.86 and a 12 month high of $73.53. The stock has a fifty day moving average price of $70.70 and a 200-day moving average price of $65.76. The company has a current ratio of 1.08, a quick ratio of 0.92 and a debt-to-equity ratio of 1.39. The firm has a market cap of $303.45 billion, a PE ratio of 28.18, a P/E/G ratio of 3.92 and a beta of 0.60.

Coca-Cola (NYSE:KO) last released its quarterly earnings results on Tuesday, July 23rd. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.03. Coca-Cola had a return on equity of 43.62% and a net margin of 22.92%. The company had revenue of $12.40 billion during the quarter, compared to analysts’ expectations of $11.78 billion. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts predict that The Coca-Cola Company will post 2.85 earnings per share for the current fiscal year.

Coca-Cola Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $0.485 per share. The ex-dividend date is Friday, November 29th. This represents a $1.94 dividend on an annualized basis and a yield of 2.75%. Coca-Cola’s payout ratio is 77.60%.

Analysts Set New Price Targets

KO has been the topic of a number of research analyst reports. Bank of America upped their target price on shares of Coca-Cola from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. BNP Paribas assumed coverage on Coca-Cola in a research note on Monday, June 24th. They issued an “outperform” rating and a $72.00 price objective on the stock. Royal Bank of Canada lifted their target price on Coca-Cola from $65.00 to $68.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Citigroup increased their price target on Coca-Cola from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Wednesday, July 24th. Finally, Morgan Stanley lifted their price objective on Coca-Cola from $70.00 to $78.00 and gave the company an “overweight” rating in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Coca-Cola Company Profile

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.